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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #21  
Old 01-31-2021, 06:52 PM
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Quote:
Originally Posted by Janus View Post
If your spouse has been working until a month before you initiate divorce proceedings, I almost guarantee you won't be paying any spousal support.
Correct. Many divorces happen after the birth of a child and 1 year of maternity leave is up and that parent has to return to work and doesn't want to. If anyone finds themselves in that situation a judge will not order spousal support. See it all the time in the court.

But, if you wait 6 months after the date they should have returned to work... Good luck. That is when stuff gets ugly.
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  #22  
Old 01-31-2021, 07:22 PM
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Hey 350 Mag do you own a Mercury Mercruiser? Just noticed your handle is "350 Mag".
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  #23  
Old 02-01-2021, 09:03 AM
350 Mag 350 Mag is offline
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Originally Posted by ifonlyihadknown View Post
350 Mag,

Family court is the scam. Listen to rockscan since that is the point of view that family courts operate under. Janus also offers words of wisdom.

It's assumed that only your STBX contributed to the marriage and now must be compensated. Any contributions you made are ignored.

Any decision made by your STBX, you are assumed to have agreed with, even if you didn't and had no way of forcing her.

The marriage will end, your STBX will be free to live here life, and possibly be supported for life. You will be an indentured servant, forced to continue to provide for them even though the marriage is supposed to be over. Your responsibilities will continue. Your STBX has none and doesn't even have to try and support themselves. Why would they when they've won the "cash for life" lottery?


Getting married has become the riskiest financial gamble you can take. As Janus mentioned, the only prudent (and cold blooded) thing to do would have been to get divorced the minute your STBX decided not to go back to work.

Well....

I can pension off in 9 years.

Then my income drops to $50k -60K /year?

She has higher pension value than me right now so I am getting a Seperation Agreement that we are leaving each other's pensions alone.

She won't lose on CPP because she was maxed out for 4 years before she left to raise family.....they don't penalize you for that? Or has that changed?

She has also agreed to put in writing that if she enters a common law or gets remarried to stop spousal support.

That should significantly reduce my obligations when I turn 59.

Cross my fingers she meets a guy she likes and remarries....then I am done paying.

??????
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  #24  
Old 02-01-2021, 12:06 PM
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You will have to do a financial statement and figure out the asset split. You are staying in the house and she is entitled to a portion of it. You can also work out some sort of settlement where you have a step down as your income changes. Seeing a lawyer will help.


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  #25  
Old 02-01-2021, 01:03 PM
LovingDad1234 LovingDad1234 is offline
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Quote:
Originally Posted by rockscan View Post
Seeing a lawyer will help.
Yes, speaking with a lawyer will help.

But it is strongly recommended for 350Mag to speak with a therapist or separation coach as soon as possible to avoid going on tangents with lawyers about how he feels what is transpiring or will transpire is unfair. The lawyer will gladly listen, even schedule further meetings, and next thing you know 350Mag will get sent a $2500 invoice for a few meetings where it was a one-way conversation with nothing to show for it....
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  #26  
Old 02-01-2021, 02:20 PM
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Originally Posted by LovingDad1234 View Post
Yes, speaking with a lawyer will help.

But it is strongly recommended for 350Mag to speak with a therapist or separation coach as soon as possible to avoid going on tangents with lawyers about how he feels what is transpiring or will transpire is unfair. The lawyer will gladly listen, even schedule further meetings, and next thing you know 350Mag will get sent a $2500 invoice for a few meetings where it was a one-way conversation with nothing to show for it....
I ain't gonna waste my time bitching anymore.

It's done.

I got 28.5 years with her.

We are going to be able to hammer out a deal....

She isn't greedy, neither am I.

Now can she be persuaded to go for more by friends, family or lawyer.

Absolutely.

That's why I haven't yelled at, got angry, and have kept it civil.

We both want to do right by our kids

The kids are with me.

We used a Family Law spousal support calculator.

Agreed on an amount.

She is happy...


We are going to sit down with a mediator with all our finances in 2 months

I said I will pay for our youngest post secondary when that comes, IF she stays committed to the amounts we agreed on.

I don't have a problem paying for the education because I would be regardless IF we were still together or not.

If she wants more per month she will have to help pay for education.

She understands that until we get a court order that I cannot claim Spousal support for tax.....and she is getting tax free money

As far as the house, me and the kids are in it for at least 1.5-2 years .

I am going to be responsible for maintaining small stuff, taxes and Insurance to offset what she pays in rent for her place

I said IF she ends up living in house she will get the same amount of time with same deal.

We are hoping to just sell it in 2 years and split 50/50.

As far as all other assets...50/50.

Pensions will be addressed through mediator.

She realizes she has more "credits" than me....


We will be fine....

1 day at a time....

She hurt me....but I hurt her first.

No one is innocent and we are both to blame for the breakdown in the marriage
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  #27  
Old 02-03-2021, 04:39 PM
canthisberight canthisberight is offline
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If she gets married or cohabits again...you are off the hook...if the seperation is written like that.
Mine says if my ex husband resides with someone for 9 months, or remarries, I am done paying!!
Praying he meets someone..oops
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  #28  
Old 02-03-2021, 06:03 PM
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Quote:
Originally Posted by Tayken View Post
Correct. Many divorces happen after the birth of a child and 1 year of maternity leave is up and that parent has to return to work and doesn't want to. If anyone finds themselves in that situation a judge will not order spousal support. See it all the time in the court.

But, if you wait 6 months after the date they should have returned to work... Good luck. That is when stuff gets ugly.
I wish more people were aware of this.

If your spouse is saying that they do not want to go back to work, this is an incredibly dangerous situation. You are at the threshold of losing everything.

I remember my ex said she did not want to go back to work. I laughed and told her that I'd be more than happy to stay home if she felt a child would do better with a parent at home. Needless to say, she rapidly decided that daycare was a reasonable option.

In retrospect, that was one of the most important decisions I ever made in my life. To me it was just an equity thing, it didn't make sense for only one of us to be working. Somehow, that forced me onto the right path.
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  #29  
Old 02-03-2021, 06:31 PM
rockscan rockscan is offline
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Personally, as a woman, I dont know how anyone would WANT to stay home. I love kids but adults who act like children are much more stimulating on a daily basis.


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  #30  
Old 02-04-2021, 02:34 AM
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Quote:
Originally Posted by Janus View Post
I wish more people were aware of this.

If your spouse is saying that they do not want to go back to work, this is an incredibly dangerous situation. You are at the threshold of losing everything.

I remember my ex said she did not want to go back to work. I laughed and told her that I'd be more than happy to stay home if she felt a child would do better with a parent at home. Needless to say, she rapidly decided that daycare was a reasonable option.

In retrospect, that was one of the most important decisions I ever made in my life. To me it was just an equity thing, it didn't make sense for only one of us to be working. Somehow, that forced me onto the right path.
Interesting,

In my situation wouldn't have made much sense. That was the last thing I would have been thinking.


Maybe I am too traditional, maybe when I promised I do...forever I actually believed it.

I got married to hopefully have a loving family, grow old, retire and see our grandkids grow up.

I still get to do that but we won't be together.

Taking it 1 day at a time....
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